This paper examines the hypothesis that both stock returns and volatility are asymmetrical functions of past information from the US market. By employing a double-threshold GARCH model to investigate six major index-return series, we find strong evidence supporting the asymmetrical hypothesis of stock returns. Specifically, negative news from the US market will cause a larger decline in a natio...

Humans show a natural tendency to discount bad news while incorporating good news into beliefs (the "good news-bad news effect"), an effect that may help explain seemingly irrational risk taking. Understanding how this bias develops with age is important because adolescents are prone to engage in risky behavior; thus, educating them about danger is crucial. We reveal a striking valence-dependen...

This paper presents a corpus-based approach to communicative speech synthesis. We chose “good news” style and “bad news” style for our initial attempt to synthesize speech that has appropriate expressiveness desired in human-human or human-machine dialog. We utilized 10-hour “neutral” style speech corpus as well as smaller corpora with good news and bad news styles, each consisting of two to th...

People can respond to bad news in a variety of ways. The Bad News Response Model suggests that three aspects of bad news (the controllability, likelihood, and severity of negative consequences) predict which response (Watchful Waiting, Active Change, or Acceptance) people are likely to choose. This article presents an initial test of the predictions of the Bad News Response Model. College stude...

Climate change is real and dangerous. Exactly how bad it will get, however, is uncertain. Uncertainty is particularly relevant for estimates of one of the key parameters: equilibrium climate sensitivity--how eventual temperatures will react as atmospheric carbon dioxide concentrations double. Despite significant advances in climate science and increased confidence in the accuracy of the range i...